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LAUDERDALE COUNCIL <br />ACTION FORM <br />Action Requested <br />Consent <br />Public Hearing <br />Discussion X <br />Action <br />Resolution <br />Work Session, <br />Meeting Date September 9, 2014 <br />ITEM NUMBER 2015 Budget and Levy <br />STAFF INITIAL <br />The Council asked staff to prepare a budget that that does not increase the levy. The attached <br />spreadsheet shows this in two ways. First, if the total levy remains the same as 2014 <br />($616,215), the local tax levy will decrease by 1.6% due to the additional fiscal disparities reve- <br />nue the City is expecting. If the local tax levy remains the same as 2014 at $495,281, the overall <br />levy will increase by 1.3%. <br />As you know, the preliminary levy sets the ceiling for the levy for 2015. The Council can set <br />the preliminary levy and then decrease it when establishing the final levy. The final levy can not <br />be higher than the preliminary levy. <br />Setting the preliminary levy at less than the 2.3% discussed at the last meeting with leave a gap <br />in revenue compared to expenditures. The difference would be made up by a transfer from the <br />funds from the Eldercare Project. <br />Based on the direction of the Council, staff will prepare the preliminary levy resolution for <br />the next Council meeting. <br />